The State Agency of Medicines informs that the total turnover of products (medicines and other goods) produced by manufacturers in Latvia in 2017 was 174 million EUR (excluding VAT), which is an 11% increase in comparison with 2016.
Last year sales of medicinal products in Latvia decreased by 0.4%, comprising 16.84 million EUR. Whereas sales of medicinal products outside of Latvia increased by 14% and reached 140.35 million EUR.
Janis Zvejnieks, Deputy Director of the State Agency of Medicines: “After processing the data regarding sales of medicinal products by manufacturers in Latvia, we see a positive trend. Manufacturers in Latvia continued to increase turnover of medicinal products last year. In order to support Latvia’s manufacturers in the international market, last year SAM issued 218 Pharmaceutical Product Certificates of and 22 Free Sale Certificates.”
In 2017, JSC “Olainfarm” maintained its leader position among medicines manufacturers according to the volume of sales of medicinal products. JSC “Grindeks” came in second and increased its total volume of sales by 29% in comparison with 2016. JSC “KALCEKS” was in third place and also showed an increase in the volume of sales by 21% in comparison with 2016.
Even though in 2017 JSC “Grindeks” decreased its volume of sales of medicinal products in the local market by 4%, it maintained its leader position according to the turnover of medicinal products in Latvia, leaving behind JSC “Olainfarm” and JSC “Rīgas farmaceitiskā fabrika”.
